Asset Management One Co. Ltd. cut its stake in Enphase Energy, Inc. (NASDAQ:ENPH - Free Report) by 94.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,826 shares of the semiconductor company's stock after selling 61,484 shares during the period. Asset Management One Co. Ltd.'s holdings in Enphase Energy were worth $237,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Enphase Energy by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 16,536,218 shares of the semiconductor company's stock valued at $1,135,707,000 after buying an additional 44,782 shares in the last quarter. Invesco Ltd. increased its holdings in Enphase Energy by 43.4% in the fourth quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company's stock valued at $313,034,000 after buying an additional 1,378,978 shares in the last quarter. Geode Capital Management LLC increased its holdings in Enphase Energy by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 3,429,909 shares of the semiconductor company's stock valued at $234,994,000 after buying an additional 47,593 shares in the last quarter. Northern Trust Corp increased its holdings in Enphase Energy by 40.9% in the fourth quarter. Northern Trust Corp now owns 1,668,807 shares of the semiconductor company's stock valued at $114,614,000 after buying an additional 484,497 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in Enphase Energy by 29.6% in the fourth quarter. Schroder Investment Management Group now owns 1,451,414 shares of the semiconductor company's stock valued at $99,683,000 after buying an additional 331,917 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on ENPH shares. Wells Fargo & Company dropped their target price on shares of Enphase Energy from $65.00 to $42.00 and set an "overweight" rating for the company in a report on Friday, June 20th. BNP Paribas Exane lowered shares of Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 price target on the stock. in a research report on Tuesday, May 13th. Citigroup lowered their price target on shares of Enphase Energy from $47.00 to $43.00 and set a "sell" rating on the stock in a research report on Thursday, June 5th. Glj Research lowered their price target on shares of Enphase Energy from $50.69 to $31.11 and set a "sell" rating on the stock in a research report on Friday, April 25th. Finally, TD Cowen lowered their price target on shares of Enphase Energy from $78.00 to $58.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Twelve investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $65.44.
Check Out Our Latest Stock Report on Enphase Energy
Insider Buying and Selling
In other news, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average cost of $46.35 per share, for a total transaction of $185,400.00. Following the completion of the purchase, the chief executive officer owned 1,598,696 shares of the company's stock, valued at approximately $74,099,559.60. This trade represents a 0.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.10% of the company's stock.
Enphase Energy Stock Up 3.7%
ENPH stock traded up $1.51 during trading on Friday, reaching $42.48. The stock had a trading volume of 7,032,143 shares, compared to its average volume of 4,954,120. The company has a market capitalization of $5.57 billion, a P/E ratio of 39.33 and a beta of 1.67. The firm has a fifty day moving average price of $43.00 and a 200 day moving average price of $55.41. The company has a current ratio of 1.90, a quick ratio of 1.77 and a debt-to-equity ratio of 0.70. Enphase Energy, Inc. has a 1-year low of $33.01 and a 1-year high of $130.08.
Enphase Energy Profile
(
Free Report)
Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.
Featured Articles
Before you consider Enphase Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Enphase Energy wasn't on the list.
While Enphase Energy currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
